Mr. Speaker, the member raised a certain aspect of the bill that relates to housing, an area in which I have some experience having served on the board of the Peel Regional Housing Authority for some time.
She also spoke about Canada Mortgage and Housing. I know we have had this discussion in a private member's bill that was recently before the House with regard to the accumulated surplus that CMHC has had. It is a very large number.
It is important for members to understand a little bit about CMHC but I will not have the time in a question. However, effectively, it relates to the same kind of principle that general insurance companies have. They must have sufficient reserve funds, through investment or whatever it would be, to have the coverage ratio necessary to meet the risk of loss, and CMHC is no different. It is not a matter that we can just simply take the resources that are there to provide the security that allows CMHC to provide the services that it does.
I would just ask the hon. member if she would maybe come to an understanding that CMHC does not have a surplus because it just wants to hoard cash, but that it is jurisdictionally and legally obligated to maintain coverage ratios. I do not know if she understands that concept, but there are coverage ratios that must be in place.
It is really important and appropriate in the House not to suggest that somehow the surplus is discretionary and can be invested elsewhere. I would encourage the member to ensure we get that straight so Canadians do not assume somehow that CMHC is hoarding cash.